Market summary 25 August 2023
Today showed that the market is facing some selling pressure. Despite excitement about $NVIDIA(NVDA.US$ , big investors seemed to sell a lot of their stocks. Only three main stocks, including NVDA, ended in the green. The Nasdaq, which is a big part of the market, went down by over 2%. Many popular growth stocks dropped by more than 3%, even after starting the day with gains.
It's also important to note that there were more stocks hitting their lowest prices in a year than those reaching their highest. This doesn't mean the market will surely drop, but it does hint at potential instability and quick downward shifts.
I believe that we need to hear some positive news from Powell's speech tomorrow to prevent further declines. Looking at the current data, the market seems to be in a weak spot.
It's also important to note that there were more stocks hitting their lowest prices in a year than those reaching their highest. This doesn't mean the market will surely drop, but it does hint at potential instability and quick downward shifts.
I believe that we need to hear some positive news from Powell's speech tomorrow to prevent further declines. Looking at the current data, the market seems to be in a weak spot.
US heat list:
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Silverbat : See higher closing aft his speech
Nigel Chong 庄证评OP Silverbat: Lets see!! hopefully it closes higher
Dumb Money Space Ape : Spam
Nigel Chong 庄证评OP Dumb Money Space Ape: I believe you are spamming